SunPower (SPWRA) Trading Near $12.70 Resistance Level
Posted: Thursday, September 15, 2011 8:12 AM EDT
By: Market Intelligence Center Staff
SunPower (NASDAQ:SPWRA) closed Wednesday's dramatic trading session at $12.09. In the past year, the stock has hit a 52-week low of $11.55 and 52-week high of $23.36. SunPower (SPWRA) stock has been showing support around $11.72 and resistance in the $12.70 range. Technical indicators for the stock are Bearish and S&P gives SunPower (SPWRA) a neutral 3 STARS (out of 5) hold rating. For a hedged play on SunPower (SPWRA), look at the Mar '12 $12.00 covered call for a net debit in the $11.11 area. That is also the break-even stock price for this trade. This covered call has a duration of 184 days, provides 8.11% downside protection and an assigned return rate of 8.01% for an annualized return rate of 15.89% (for comparison purposes only). SunPower (SPWRA) has a current trailing average dividend yield of 0%. [FBB-Seven Summits Research]
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